STONES RIVER DEVELOPMENT CORPORATION

EIN: 823187371 501(c)(3) Housing & Shelter

MURFREESBORO, TN

Total Revenue
$189,803
Total Expenses
$358,319
Total Assets
$20,589,124
Net Assets
$20,560,531
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2017
Legal Domicile
TN
Principal Officer
CHARLIE L TEASLEY
Phone
6158939414
Tax Period
2024-04-01 to 2025-03-31

STONES RIVER DEVELOPMENT CORPORATION, founded in 2017, is a small nonprofit in the Housing & Shelter sector that reported $190K in total revenue in fiscal year 2024. Revenue fell 90% from the prior year — a significant decline worth monitoring. Expenses of $358K exceeded revenue, resulting in a 89% operating deficit.

Mission

ASSIST LOW AND MODERATE INCOME INDIVIDUALS & THEIR FAMILES IN OBTAINING ADEQUATE HOUSING WHICH THEY WOULD NOT BE ABLE TO AFFORD WITHOUT ASSISTANCE OR SUPPORT. FINANCE, CONSTRUCT, LEASE, OPERATE AND ACT AS THE DEVELOPER OF AFFORDABLE HOUSING. PROVIDE SUPPOTIVE SERVICES AND COMMUNITY DEVELOPMENT ACTIVITIES TO BENEFIT LOW AND MODERATE INCOME INDIVIDUALS AND FAMILIES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $99,101
Investment Income $92,655
Other Revenue $-1,953
TOTAL REVENUE $189,803

Expense Breakdown

Grants Paid $0
Salaries & Benefits $126,589
Fundraising Expenses $0
Program Expenses $312,105
Other Expenses $231,730
TOTAL EXPENSES $358,319

Year-over-Year Comparison

2024 2023 Change
Revenue $189,803 $1,847,020 -0.9%
Expenses $358,319 $265,634 +0.3%
Net Income $-168,516 $1,581,386 -1.1%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

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Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
5
Independent Members
5
Employees
N/A
Volunteers
N/A

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
3
$220,793
Total Directors
5
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CHARLIE L TEASLEY CHAIRMAN 0.50
Officer Director
$0 $0 $0
BETTY HORD VICE CHAIRPERSON 0.50
Officer Director
$0 $0 $0
MICHELLE THOMAS DIRECTOR 0.50
Director
$0 $0 $0
MARK CROCKER DIRECTOR 0.50
Director
$0 $0 $0
SONYA WRIGHT DIRECTOR 0.50
Director
$0 $0 $0
L THOMAS ROWE EXECUTIVE DIRECTOR 0.50
Officer
$0 $29,224 $220,793
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $189,803 $358,319 $20,589,124 $-168,516
2024 $1,847,020 $265,634 $19,261,508 $1,581,386
2023 $1,798,597 $160,581 $17,629,806 $1,638,016
2022 $139,146 $2,739,446 $15,999,619 $-2,600,300
2021 $885,921 $161,980 $18,671,147 $723,941
2020 $961,908 $299,385 $17,856,482 $662,523
2019 $16,960,713 $11,274 $17,193,458 $16,949,439
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